The University of the People will "open its doors" (i.e. take enrolments for a September 2009 start) in April 2009. According to the organisation's web site:
UoP (a not-for-profit) is coy about costs:
and will start with two degree courses, a BA in Business Administration and a BSc in Computer Science, running over ~four years for full-time students. Currently, UoP says it "intends to apply for accreditation from recognized authorities as soon as possible".
Shai Reshef, the founder, is a serial entrepreneur with a very strong track record in making this kind of thing work. For example, a Netherlands-based for-profit company Reshef chaired, and which was subsequently sold to Laureate Inc. [PDF], was the delivery partner for a range of Liverpool University online masters courses.